Summary Description Requirements Clause Samples

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to have satisfied our summary description reporting requirements under Internal Revenue Code (IRC) Section 408(l)(2) if either: a. We provide a summary description directly to you, or b. We provide our name, address, and withdrawal proce- dures to you, and your employer provides you with all other required information. Section references are to the Internal Revenue Code unless other- wise noted. Form 5305-SA is a model custodial account agreement that meets the requirements of Sections 408(a) and 408(p) and has been pre-approved by the IRS. A SIMPLE individual retirement account (SIMPLE IRA) is established after the form is fully executed by both the individual (participant) and the custodian. This account must be created in the United States for the exclusive benefit of the participant and his or her beneficiaries. For more information on SIMPLE IRAs, including the required disclosures the custodian must give the participant, see Pub. 590, Individual Retirement Arrangements (IRAs).

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to have satisfied our summary description reporting requirements under Internal Revenue Code (IRC) Section 408(l)(2) if either a. we provide a summary description directly to you, or b. we provide our name, address and withdrawal procedures to you, and your employer provides you with all other required information. name, reorganizes, merges with another organization (or comes under the control of any federal or state agency), or if our entire organization (or any portion that includes your SIMPLE IRA) is bought by another organization, that organization (or agency) will automatically become the trustee or custodian of your SIMPLE IRA, but only if it is the type of organization authorized to serve as a SIMPLE IRA trustee or custodian.

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to have satisfied our summary description reporting requirements under Internal Revenue Code (IRC) Section 408(l)(2) if either a. we provide a summary description directly to you, or b. we provide our name, address and withdrawal procedures to you, and your employer provides you with all other required information. Form 5305-SA is a model custodial account agreement that meets the requirements of sections 408(a) and 408(p). However, only Articles I through VII have been reviewed by the IRS. A SIMPLE individual retirement account (SIMPLE IRA) is established after the form is fully executed by both the individual (participant) and the custodian. This account must be created in the United States for the exclusive benefit of the participant and his or her beneficiaries. For more information on SIMPLE IRAs, including the required disclosures the custodian must give the participant, see Pub. 590-A, Contributions to Individual Retirement Arrangements (IRAs); Pub. 590-B, Distributions from Traditional Individual Retirement Arrangements (IRAs); and Pub. 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans).

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to have satisfied our summary description reporting requirements under Internal Revenue Code (IRC) Section 408(l)(2) if either: a. We provide a summary description directly to you, or b. We provide our name, address, and withdrawal proce- dures to you, and your employer provides you with all other required information. Section references are to the Internal Revenue Code unless other- wise noted. Form 5305-SA is a model custodial account agreement that meets the requirements of Sections 408(a) and 408(p) and has been

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to

Summary Description Requirements. Notwithstanding Article V above, we will be deemed to have satisfied our summary description reporting requirements under Code section 408(l)(2) if either a. we provide a summary description directly to you, or b. we provide our name, address and withdrawal procedures to you, and your employer provides you with all other required information.

Summary Description Requirements. Notwithstanding Article V above, this Custodian will be deemed to have satisfied our summary description reporting requirements under Internal Revenue Code (IRC) Section 408(l)(2) if either ● The Custodian provides a summary description directly to the Participant, or ● The Custodian provides their name, address and withdrawal procedures to the Participant, and the Participantʼs employer provides the Participant with all other required information. General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Purpose of Form Altruist Corp 8 Form 5305-S is a model custodial account agreement that meets the requirements of sections 408(a) and 408(p). However, only Articles I through VII have been reviewed by the IRS. A SIMPLE individual retirement account (SIMPLE IRA) is established after the form is fully executed by both the individual (participant) and the custodian. This account must be created in the United States for the exclusive benefit of the participant and his or her beneficiaries. For more information on SIMPLE IRAs, including the required disclosures the custodian must give the participant, see Pub. 590-A, Contributions to Individual Retirement Arrangements (IRAs); Pub. 590-B, Distributions from Individual Retirement Arrangements (IRAs); and Pub 560, Retirement Plans for Small Business (SEP, SIMPLE, and Qualified Plans).